Image courtesy of Skanska

New York-based investor KKR and Synergy Investments of Boston have acquired a Seaport District office building from original developer Skanska.

Terms were not disclosed. Synergy partnered with KKR Real Estate Partners’ Americas III fund on the transaction and will manage the property.

The 235,000-square-foot Two Drydock was developed on a ground-leased parcel owned by the Economic Development and Industrial Corp. of Boston. Construction began in 2018 and developers leased the office space to MullenLowe and Shell Techworks. The 13-story tower also contains 7,000 square feet of retail space which will be occupied by Lord Hobo Brewing Co. and Render Coffee.

The building was designed with parking on the second through fourth floors which can be eventually converted into office space.

“We remain highly confident in the Boston office market, and the sale of Two Drydock further confirms our belief that well-designed, high-quality office buildings are still the best tool employers can use to attract and retain world-class talent,” Skanska USA Commercial Development Executive Vice President Russell DeMartino said in a statement.

KKR has $36 million in assets under management.

Skanska Sells Seaport Office Tower to KKR

by Steve Adams time to read: 1 min
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